XTI/USD
Saudi Arabia's attempt to pave the way for President Joseph Biden's upcoming visit to Riyadh could prove unsuccessful. OPEC+ has agreed to a production increase that represents just 0.4% of potential global demand in July and August. This is not enough to balance the market, which is moving into deficit due to a recovery in demand in China. The medium-term situation depends on how the price overcomes the protection zone 120 − 122.50.
Saudi Arabia's attempt to pave the way for President Joseph Biden's upcoming visit to Riyadh could prove unsuccessful. OPEC+ has agreed to a production increase that represents just 0.4% of potential global demand in July and August. This is not enough to balance the market, which is moving into deficit due to a recovery in demand in China. The medium-term situation depends on how the price overcomes the protection zone 120 − 122.50.
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